In trying to do it yourself, there’s the chance you could do it all wrong. Many successful people refrain from trying to plan their financial futures. They delegate that job to professionals, as they lack the time, inclination, or knowledge to do it themselves. This makes sense. It takes years to gain [...]
Some key financial steps that you could take. Your twenties are the perfect time to save and invest. Do it now, and you will have a great ally—time—on your side. Think about doing the following things if you’re not doing them already. Put money into a retirement plan. Save and invest through a 401(k), [...]
The risks to your wealth aren’t only in the financial markets. The wealthier you become, the more liability protection matters. We live in a litigious world, one in which even friends and neighbors can be convinced to see opportunity in the wake of misfortune. A (larger) umbrella liability policy may be an excellent idea. [...]
Adapting your retirement strategy (and outlook) may be necessary. Involuntary retirement can be emotionally and financially unsettling. Here are some questions to ask yourself if it happens. Do you want to keep working? You may have to rely on your spouse or partner’s income—or your emergency fund—for many months if you look for another full-time [...]
These crucial years call for action. Today, retirement may seem nearer to you than it once did. The following moves might be worth making—and soon. Catch-up contributions to your retirement accounts. Starting in the year you turn 50, you may make a total of $1,000 in catch-up contributions to your IRAs each year [...]
Tips on amassing more money to direct toward your goals. Saving for the future can be painless. You know the basics: start small, start early. Beyond that advice, what else can you do? Think about these ideas. Find an extra $50 a month. Young people are pretty frugal compared to older generations: as CNBC [...]
Is your portfolio age-appropriate? Part art, part science, asset allocation is the mix of a portfolio's stocks, bonds and other investments that can help it meet a particular goal. In an oft-cited study, Brinson, Hood and Beebower noted that asset allocation—not investment acumen or market timing—accounts for more than 90 percent of an [...]
Over the past 8 years, extraordinarily accommodative monetary policy has served as the primary catalyst for spurring continued economic growth in the U.S. and around the globe. Although the economic expansion has delivered steady gross domestic product (GDP) growth, consistent returns for the broad stock market, and an improving job market, the expansion itself has been lackluster. While we’re still set in [...]
After more than a year of political posturing and investor anticipation, Congress finally approved a $1.5 trillion tax cut, the most sweeping U.S. fiscal overhaul since 1986. The 2017 Tax Cuts and Jobs Act was signed into law by President Trump last Friday, December 22, meeting his pledge to deliver tax reform [...]
During this holiday season, avoid a credit card crunch and the dangerous pitfall of spending money earmarked for other goals, such as retirement. As the traditional giving season approaches, there is one important item to add to your to do list: Create a holiday budget. Before the gift shopping and wrapping begins, take [...]
